Create Alternate Lease-Type Supplier Contracts

Set up lease contract book code configurations.

Create operating lease-type supplier contracts.

Create fiscal periods that span the length of the contracts.

Configure the Alternate Supplier Contract Event
business process and security policy in the Supplier Contracts functional area.

You can create alternate lease-type supplier contracts to represent a lease-type supplier contract under different accounting methods. Representing your lease-type supplier contracts using different accounting methods can help you:

Compare lease accounting transaction amounts under other accounting standards.

Meet financial reporting obligations of countries that you operate in.

Access the

Mass Generate Alternate Lease Contracts

task.

Select all contracts for which you want alternate contracts.

When you select supplier contracts with empty fields or prompts, Workday uses the values you specify in these fields:

Default Alternate Accounting Method

Default Alternate Interest Rate

Default Alternate Contract Type

(Optional) Select

Alternate Contract Type

You can only create alternate contracts that use the same payment type as the original contract.

(Optional) Select an

Alternate Accounting Method

Configure

Receive Contract Lines

on the contract type to create alternate contracts that use the ROU asset depreciation expense accounting method.

(Optional) Select an

Alternate Interest Rate

When you amend a lease-type supplier contract, you can provide a different interest rate on any associated alternate contracts. Those alternate contracts can't use the straight line expense accounting method.

Workday generates any related expense recognition schedules and installments in Draft
status.

Approve your alternate lease-type supplier contracts.

Concept: Lease Accounting

Steps: Record Active Lease-Type Supplier Contracts